Grangemouth oil refinery to shut down, raising concern for 500 jobs

Questions over loss of UK refining capacity as owner Petroineos plans to convert facility into gas import terminal as soon as 2025

Grangemouth oil refinery in Scotland is to cease operations and could do so as early as 2025 under plans announced by its owner, Petroineos, part of the petrochemicals empire owned by Monaco-based British billionaire Sir James Ratcliffe.

Trade unions raised concerns about the job security of the 500 people directly employed at the facility, near Falkirk, and on the UK’s fuel supply from the closure of one of the country’s six large oil refineries.